Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 12/18/20

Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/11/20 – 12/18/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B -0.07% 99.63 99.70 10
2 6,451 REFINITV TL B 0.02% 99.85 99.82 11
3 5,450 ENVISION HEALTHCARE TL B -0.68% 81.96 82.52 14
4 5,100 CHANGE HEALTHCARE TL B 0.13% 99.27 99.14 15
5 5,000 QWEST CORPORATION TL B 0.04% 98.42 98.38 12
6 4,750 ZAYO TL 0.21% 98.99 98.78 19
7 4,750 DELL TL B 0.05% 100.03 99.99 17
8 4,700 CAESARS RESORT COLLECTION TL B -0.59% 96.97 97.54 14
9 4,250 BERRY PLASTICS TL X 0.39% 99.59 99.20 10
10 4,197 AKZONOBEL TL B -0.10% 98.37 98.47 11
11 3,582 MISYS TL B -0.20% 97.82 98.02 14
12 3,575 STARS GROUP TL B 0.19% 100.36 100.17 17
13 3,524 TRANSDIGM INC. TL F -0.02% 98.05 98.08 17
14 3,515 LIFEPOINT HOSPITALS TL B 0.22% 99.89 99.67 16
15 3,415 ENDO HEALTH TL B 0.24% 98.56 98.33 11
16 3,325 CINEWORLD TL B -0.56% 66.69 67.06 12
17 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B 0.23% 99.36 99.13 10
18 3,312 HUB INTL LTD TL B 0.23% 98.10 97.88 16
19 3,300 BMC SOFTWARE TL B -0.02% 99.60 99.63 17
20 3,300 NTL CABLE PLC TL N 0.30% 98.96 98.67 15
AVERAGE 4,473 0.00% 96.52 96.51 13.9

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 12/11/20 – 12/18/20

RANK NAME CHANGE PX PX-1W
1 PEABODY ENERGY TL B 32.02% 36.55 27.69
2 DUEMMEN ORANGE EUR TL B 18.03% 46.81 39.66
3 CRESTWOOD MIDSTREAM TL B 16.61% 74.17 63.61
4 OUTERSTUFF TL B 12.88% 59.85 53.02
5 CLARION EVENTS TL 10.32% 88.42 80.15
6 NAVICO TL B 7.65% 91.70 85.18
7 CONSTELLIS HOLDINGS LLC PIK 2ND LIEN TL 7.60% 70.92 65.91
8 PGS TL B 7.53% 79.88 74.28
9 EQUINOX HLDGS INC 2ND LIEN TL 6.30% 66.19 62.26
10 NBG HOME TL 6.07% 77.83 73.37

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 12/11/20 – 12/18/20

RANK NAME CHANGE PX PX-1W
1 FRONTERA TL B -11.43% 23.36 26.38
2 CINEWORLD EUR TL B -7.72% 67.45 73.09
3 TRAVELPORT TL B -3.87% 68.29 71.04
4 SOLARWINDS TL -3.33% 96.24 99.55
5 AUDIO VISUAL EXT TL B -1.85% 89.28 90.96
6 HELIX GENERATION TL B -1.71% 95.28 96.94
7 EASTERN POWER TL B -1.59% 93.69 95.21
8 TRITON SOLAR TL B -1.50% 88.46 89.80
9 PARTY CITY TL B -1.10% 92.35 93.38
10 PROAMPAC TL -0.82% 98.78 99.59

Avg Bid PX by Sector

Displays the average loan bid price by sector between 12/11/20 – 12/18/20

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

Sentiment

Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) between 12/11/20 – 12/18/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 12/11/20 vs. the week ending 12/18/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CERAMTEC EUR TL B 8 34 26 325%
2 CALPINE CORP TL B5 30 54 24 80%
3 ALLIANT HLDGS I INC TL B 41 65 24 59%
4 VERITV TL B 14 37 23 164%
5 PENN NATIONAL GAMING TL B1 22 43 21 95%
6 CABLE & WIRELESS TL B5 34 55 21 62%
7 CAESARS RESORT COLLECTION TL B 32 52 20 63%
8 CLARIVATE ANALYTICS TL B 10 30 20 200%
9 STARS GROUP TL B 58 78 20 34%
10 VISTRA ENERGY TL B3 40 60 20 50%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 12/11/20 – 12/18/20

RANK TRANCHE DEALERS
1 TELENET EUR TL 20
2 BRAND ENERGY TL 20
3 SYNLAB EUR TL B3 19
4 ZAYO TL 19
5 VERISURE EUR TL B 19
6 ZIGGO EUR TL H 19
7 CAMPING WORLD TL B 18
8 GRIFOLS WORLDWIDE TL B 18
9 SIGMA BIDCO EUR TL B 18
10 EIRCOM FINCO SARL EUR TL B 18

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 12/11/20 – 12/18/20

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 12/11/20 – 12/18/20

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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